According to several news sources, new home sales increased in July. The rise was minimal but it was a significant indicator that the housing market still has life in it. Markets are typically driven by greed and fear. The stock market recently plunged because of the fear of some. However, the local economy and the world economy show enough strength and growth that the cyclical downturn will be short lived. Many are trying to predict changes in home buyer sentiment. The opportune time to buy is coming soon if not here already.
Keep an eye on market reports (click for Las Vegas Market Report) to know when to buy. We are certainly in a buyer's market and many are taking advantage of their position so they can ride the appreciation curve back up when it comes. They are betting on the mid to long term gains in value growth.